PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $144.55.

PDD has been the topic of several analyst reports. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. China Renaissance reissued a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Citigroup raised PDD from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $127.00 to $165.00 in a research report on Monday, May 12th.

Hedge Funds Weigh In On PDD

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in PDD by 5.2% during the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock worth $4,739,595,000 after purchasing an additional 1,987,935 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in PDD by 9,469.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after purchasing an additional 39,263,851 shares during the last quarter. Vanguard Group Inc. lifted its stake in PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after buying an additional 416,867 shares during the last quarter. FMR LLC lifted its stake in PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 0.6%

NASDAQ PDD opened at $105.14 on Friday. PDD has a 52 week low of $87.11 and a 52 week high of $155.67. The business's fifty day simple moving average is $106.43 and its 200-day simple moving average is $108.40. The firm has a market cap of $146.37 billion, a PE ratio of 11.32, a P/E/G ratio of 1.48 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The company had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the prior year, the firm earned $20.72 EPS. The firm's revenue was up 10.2% on a year-over-year basis. Research analysts expect that PDD will post 10.24 EPS for the current year.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.

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